Yen falls on report G-20 to water down FX language

WilliamL. Watts

FRANKFURT (MarketWatch) -- The Japanese yen
USDJPY, -0.20%
was under renewed pressure Friday after a news report said a final communique to be issued by Group of 20 finance ministers and central bankers this weekend won't repeat an earlier Group of Seven pledge that members "will not target exchange rates." The line will be left out because it wouldn't be acceptable to China, Reuters reported, citing an unnamed G-20 official. The dollar erased an earlier loss to trade at 93.41 yen, up from around 92.85 yen in North American trade late Thursday. The euro was up 0.3% versus the Japanese currency
EURJPY, +0.27%
at 124.57 yen.

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